TERMS AND CONDITIONS of the New Year 2016 Bonus Wheel
1. Every client who won any of the deposit prizes (20%, 50%, 100%, 200% ) and who makes a deposit of more than $10 is eligible to request the deposit bonus.
2. By requesting the deposit bonus you acknowledge that you have read and agreed to be bound by these terms and conditions as well as to the PaxForex Trading Terms and Conditions.
3. The forex deposit bonus is provided upon a client’s request after funds have been deposited and before making any trades.
4. The total deposit bonus amount will be divided in equal parts and granted every month according to the following rules:
- 20% deposit bonus during 2 months by 10%
- 50% deposit bonus during 3 months by 17%
- 100% deposit bonus during 6 months by 17%
- 200% deposit bonus during 12 months by 17%
5. The bonus amount will be equally deposited on a monthly basis during the following months with equal amounts every month until the total deposit amount isn’t cleared/deposited/ ended.
6. In order to receive the monthly deposit bonus each client has to complete the following conditions:
- 31 passed days after previous granted bonus
- Trade the necessary number of lots ( Monthly bonus/10)
- Equity in the trading account must not be less than the planned deposit bonuses amount
- Net deposit amount should be more than 0
7. In case the client gets stopped out, the next monthly deposit bonus will be granted after the client makes a new deposit and without completion the number of lots.
8. Bonuses on follow-on deposits accumulate with the previous monthly bonus amounts.
9. The total forex deposit bonus amount on one forex account can’t exceed $10,000/EUR 9,000. The maximum forex deposit bonus amount on all of the individual’s forex trading accounts can’t be more than $30,000/EUR28,500.
10. Fund transfers between accounts are not considered as an initial deposit.
11. The bonus cannot be transferred between accounts.
12. The bonus amount is only for trading and cannot be withdrawn.
13. Following the receipt of the deposit bonus, if the client requests, either during or after the promotional period, a withdrawal of funds from the account (or requests an internal transfer of funds from one account to another), PaxForex may at its discretion decide to remove, proportionally, the granted deposit bonus prior to proceeding with any client’s withdrawal request based on the client’s profit and/or loss ratio or deposit and/or withdrawal ratio. In the alternative, PaxForex has the discretion to implement the following options:
- (where the client has not received the additional bonus) PaxForex shall be entitled to, prior to the fulfilment of such request at its complete discretion, remove a sum which equals the previously granted deposit bonus from the client's account; if there are insufficient funds in the client's account to enable the removal of a sum equalling the deposit bonus, PaxForex shall be entitled to remove all sums in the account; or
- (where the client has received the additional bonus) PaxForex shall be entitled to, prior to the fulfilment of such request at its complete discretion, to remove a sum which equals the additional bonus from the client's account; if there are insufficient funds in the client's account to enable the removal of a sum equalling the additional bonus, PaxForex shall be entitled to remove all sums in the account.
14. PaxForex bonuses are limited to only one bonus per registered e-mail address as well as IP address and account holder. The creation of multiple accounts under different e-mails and names by one account holder in order to receive multiple bonuses from PaxForex is strictly prohibited and will lead to the cancellation of the entire bonus program for the registered account holder and the account while assets will be kept to offset fraudulent activity which resulted in losses to the company. Excess funds, if any are available after losses have been recovered, will be send back to the account holder by the same mean the deposit was made and a permanent ban will be issued.
15. Any indication or suspicion of fraud, manipulation, pip hunting, pip mining, scalping, bonus hedging, cash-back arbitrage, or other forms of deceitful or fraudulent activity in an eligible client’s live account(s) with PaxForex or otherwise related or connected to a credit bonus will nullify all previously credited bonuses of the eligible client’s live accounts with PaxForex and/or any and all transactions carried and/or profits or losses garnered therein. In these circumstances, PaxForex reserves the right, at its sole discretion to close/suspend (either temporarily or permanently) all such eligible client’s live accounts with PaxForex, cancel all orders and annul all profits of such participant or assign to trade 0.5 standard lots per $1 received bonus amount. In case of a trade assignment bonus, any profit will be held in the account until the client completes the required lots. In these circumstances, PaxForex shall not be liable for any consequences of the bonus cancellation, including, but not limited to, order(s) closure by stop out.
16. Any completed trading transactions with duration of five (5) minutes or less will not be included in the lots calculation. Duration is considered the time between the opening and closing of a position.
17. All positions that were closed on the platform using the functions “close by” and “multiple close by” will not be included in the lots calculation.
18. All positions closed with a profit or a loss of less than one (1) maximum spread will not be included in the lots calculation.
19. This promotion can be cancelled at the discretion of the company and will remain in effect for as long as the company sees fit to provide it based on the terms and conditions outlined here and in the customer agreement.
20. PaxForex may make changes to these Promotion Terms and will notify you of these changes by posting the modified terms on the PaxForex website.
21. PaxForex advises you to revise these Promotion Terms regularly, and by your continued use of the PaxForex website and services that you accept any such modified terms.
Any dispute or situation not covered by these Promotion Terms will be resolved by our management in a manner it deems to be the fairest to all parties concerned. That decision shall be final and/or binding on all entrants; if these Promotion Terms are translated into a language other than English, then the English version of the rules will be prevailing.